Eat Doritos & rock out

Buy Doritos.
Go to DoritosLateNight.com.
Select Blink 182 or Big Boi.
Allow the site to "use" your camera and mic.

What the hell am I talking about?
Check it out at Gizmodo, Smartbrief, & Marketplace.
Woooooooo.

CEO of Lehman Brothers talks about buying time

From Calculated Risk

That is the phases we are in right now. Everyone is trying to buy time, as opposed to dealing with the leverage, they are trying to buy time. Whether you are a banker or a company, they are all trying to buy time. I don't see the leverage coming back, and I don't see the consumption of good and services coming back.
Bryan Marsal, CEO of Lehman Brothers Holdings.

He's the CEO hired on to wind down the company.

What happens when the 8th largest economy in the world is insolvent

And Friday, their IOU's:

A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap.

From The Wall Street Journal.

Wonder if their problems & budget problems in other states will have a negative or positive effect.

SP in VF

From VF:

Why did so many skilled veterans of the Republican Party—long regarded as the more adroit team in presidential politics—keep loyally working for her election even after they privately realized she was casual about the truth and totally unfit for the vice-presidency? Perhaps most painful, how could John McCain, one of the cagiest survivors in contemporary politics—with a fine appreciation of life’s injustices and absurdities, a love for the sweep of history, and an overdeveloped sense of his own integrity and honor—ever have picked a person whose utter shortage of qualification for her proposed job all but disqualified him for his?

Ouch.

Surfing the web "only" device

Super cool from the NY Times blog Bits:

The purpose of the CrunchPad will be very simple: surfing the Web. Turn it on and up comes a browser.

I came up with an idea in the late 90s for something similar that had included a QWERTY keyboard since at the time, the touch screen wasn't developed yet. We developed a business plan that included licensing the technology instead of building it ourselves, got an attorney on board, and after an aggressive patent search, we found a patent held by National Semiconductor that stopped us. Their device never came out.

A review of Lecturing Birds on Flying

From naked capitalism:

Chapter 2: modern finance theory is a crock, peddled by charlatans at business schools who have managed to seal themselves off from the usual empirical tests of a theory.

And:

In the end, the message of the book is that quantitative finance is a delusion, and that common sense is a better starting point for risk management.

So if modern finance theory is being proven wrong, depending whether you believe that or not, coupled with the world economy blowing up, how should you invest? The same as you've always done since "the market will come back".